Craig Stiles is Facing a Managed Account Dispute

Craig Stiles (CRD #: 4495879), a broker registered with Ameriprise Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 2, 2024. Keep reading if you have questions regarding this dispute. 

On October 18, 2023, an investor alleged that Craig Stiles recommended a managed account portfolio that exceeded his investment risk tolerance. 

The investor sought $250,000, but the dispute was denied by the firm. Investors should know, however, that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

What Are Managed Accounts?

Managed accounts often come with higher fees than self-directed brokerage accounts and may be unsuitable for many investors. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. This rule also prohibits overconcentration, as placing too much of a portfolio in a single sector exposes the investor to unnecessary risk. 

Background Information 

Craig Stiles has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 23 states, the Virgin Islands, and D.C. He is also a registered investment adviser in Michigan and Texas.

Kurta Law Can Help 

If you have worked with Craig Stiles and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.